US Business & Law – Liberty Mutual Group in Agreement to Acquire Safeco Corporation for $6.2 Billion

LAWFUEL – Legal Announcement Service – Debevoise & Plimpton LLP is advising Liberty Mutual Group (“Liberty Mutual”) in a definitive agreement with Safeco Corporation (“Safeco”) pursuant to which Liberty Mutual will acquire all outstanding shares of common stock of Safeco for $68.25 per share in cash. The proposed transaction is valued at approximately $6.2 billion.

Boston-based Liberty Mutual Group is a diversified global insurer and sixth largest property and casualty insurer in the U.S. based on 2007 direct written premium. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.

The Debevoise team is led by partners Gregory V. Gooding and Nicholas F. Potter and includes partners Jonathan F. Lewis and Seth L. Rosen and associates John C. Lynch, Thomas E. McGuinness, Brooke Monahan McKeever, William C. Mulvey, Christian P. Mendoza and Robert F. Weber.